LOF V2 Tokenomics
Understanding the supply and demand characteristics
LOF (V2) is a unique deflationary token with rewards in any token you choose, auto LP creation and a buyback and burn function. The token taxes benefit ALL holders of LOF and have been carefully crafted to ensure long term sustainability. Lower taxes on buys than on sells. A dumper tax for full wallet dumps protects long term holders. Incentivizes utility of the tokens within the ecosystem through tax free interactions with content creators and platforms.
- 💰Total Supply - 1,000,000,000 (1Bil)
- 💸Migration Supply - 400,000,000 (Excess to be dealt with per community Vote)
- 💧Liquidity Tokens - 305,000,000
- 🔥Burn Address - 250,000,000
- 🔏Multi-Sig Project Wallet - 45,000,000
- Platform/Development wallet tax is paid in BNB + BUSD so we never sell LOF to pay for anything.
- Anti-bot measures to prevent sniper bots
- Max transaction size set at 1% of total supply to prevent whale dumps
- Token transfer from a wallet to wallet are 0% tax.
- Separate Tax Bracket for Content Creators where we can add and remove wallets as content creators come or if they decide to leave. (0% Buy Tax, 5% Sell Tax)
Volatility in crypto is insane, we all know that. Spring of 2021 set new ATH's for all the majors, something we hadn't seen since 2017. Noting that there is a 4-year window between those ATH, we have decided to split our LP into BNB and BUSD. This is a risk avert approach in case there is another 4 years before new ATH's are set on the high market cap tokens. Whether BNB goes up, or down, we win either way. If BNB goes down we're in less of a loss thanks to the anchored BUSD. If BNB goes up then we gain value on that half of the liquidity pool! Stabilizing price along with the Buyback and Burn Function should support much healthier price action!
The Dumper tax is an anti-dump feature built into the token contract that penalizes irresponsible profit taking by dumping more than 33% of holdings within 24hrs. This amount can be changed via the token contract if proposed by the holders in our governance portal. If selling less than 33% of holdings, the tax is only 15%.
Arbitrage is the simultaneous purchase and sale of the same asset in different markets in order to profit. Our Contract has a "Dumper" tax that raises sell taxes to 22.5% if selling more than 33% of the wallets LOF holdings in one transaction. The arbitrage bot attempts, end up donating any profit they stood to make, plus more, back to our holders in the form of taxes. Below is the screenshot of the transaction the day it happened. Keep in mind the BNB dollar amount on bscscan.com fluctuates with the value it is the day you look at the link. If BNB value is higher than $384 when you click the link you will see a higher dollar amount in BNB. This arbitrage attempt ended up causing the thief a $112 LOSS and a LOF holder GAIN. We call this the Robin Hood Function
LOF would like to remain decentralized as long as possible for multiple reasons. The taxes that benefit ALL holders are not necessarily respected on CEX's, especially the major ones. This does NOT mean we do not plan on being listed on CEX's. While being listed on CEX's CAN bring a lot of new investors, that's not necessarily the case on smaller CEX's. When we list on CEX's they will be worthy of holding our tokens on their platform. We also have built in wallet to wallet time locks as well as the dumper tax to avoid arbitrage liquidity theft from CEX's when we list on them. We all enjoy the benefits of the DEX taxes built into the contract. When we are ready to list on major CEX's we will have to adjust the taxes lower on our DEX contract as well as implement at least a 60 second timelock on wallet to wallet transactions. Currently the wallet to wallet timelock is set to 0 and will not be changed unless voted on within our governance page. The variable is set in seconds and can be checked on the read tab of our contract. Defined as #63 "transferLockTime".